How Standard Variable Rate Affects Members
Our intermediaries understand more than most the impact of the Bank of England’s Base Rate rising over the past couple of years, to amounts not seen since 2008. This in turn has influenced lenders SVR rates, usually increasing in line with the Base Rate, and also other factors such as lender’s cost of borrowing. It is more important than ever to give members and clients the best interest rates as possible at each step of their mortgage journey. This page provides brokers with information about our SVR, including any updates that are taking place.
Latest Update - February 2025
On Thursday, 6th February 2025, the Bank of England reduced the Bank Rate from 4.75% to 4.50%.
We’re pleased to announce that our Standard Variable Rate will be reduced from 8.39% to 8.14% for existing members from 1st April 2025.
The reduction will be reflected on all new business literature, sourcing platforms and our website from the 1st March 2025.
If you have any questions, our Broker team is here to help.
For detailed information on the Bank of England’s Base Rate click here
For previous Bank of England Base Rate change information visit our blog
